Clifford Chance

Singapore Parliament Passes Payment Services Bill

16 January 2019

The Payment Services Bill was passed by the Singapore Parliament on 14 January 2019. Once the Payment Services Act 2019 (PSA 2019) comes into operation, it will replace the current regulatory framework for payment systems and services under the Payment Systems Oversight) Act (Cap.222A) (PS(O)A) and the Money-Changing and Remittance Businesses Act (Cap. 187) (MCRBA) with a single legislative regime.

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